The following items appear on the balance sheet of a company with a one-year operating cycle. Identify each item as a current liability, a long-term liability, or not a liability. Item Classification 1. Interest payable (due in 90 days) 2. Unearned revenues (to be earned over next 3 months) 3. Employee Union Dues Payable 4. Pension liability (to be paid to employees retiring in 2 to 5 years) 5. Warranty liability (6 months of coverage) 6. FICA-Social Security Taxes Payable 7. FICA-Medicare Taxes Payable 8. Prepaid Insurance (6 months of coverage) 9. Sales taxes payable. 10. Pension liability (to be fully paid to retired employees in next 11 months) Current liability Long-term liability Not a liability